Strikeforce Technologies Inc (OTCMKTS:SFOR) CEO is Mark Kay – and it’s good to see his stock back in the mix. SFOR has had a nice move so far for shareholders. If you look at the share price it was bolstered by the news of a lawsuit and patent infringement lawsuits in U.S. District Courts this week against Gemalto, Inc.; Vasco Data Security; Entrust Datacard; and SecureAuth Corporation. Shares followed higher on this press release from the company and since March 14th of this year springing from the triple zero levels back to normalization for penny stock traders.
The lawsuits against Gemalto and Vasco were filed in the District of Massachusetts and the cases against Entrust and Vasco were filed in the Eastern District of Virginia. These new lawsuits claim infringement of one or more of StrikeForce’s United States Patent Nos. 7,870,599; 8,484,698; and 8,713,701. These suits are in addition to the three cases filed in June 2016 involving StrikeForce’s ’698 patent that are currently pending in the District of New Jersey against Duo Security, Centrify Corporation and Trustwave Holdings, Inc.
I specifically like what Strikeforce Technologies Inc (OTCMKTS:SFOR) CEO Mark Kay said here, this represents his personality as an aggressive CEO who is fighting for the common shareholder, he said, “We can sit by and watch competitors use our patented inventions without permission, or we can do something about it. We’ve decided to do something about it,” said Mark L. Kay, StrikeForce CEO. “We think competition is healthy, but competitors should create their own original technology, not use what we developed.”
“There has been an increasingly sharp rise in cyber-attacks recently with many international corporations being hacked. This increase in cyber-attacks and the strengthening of regulations, such as the FFIEC in the financial market and HIPAA HiTech and Electronic Protected Healthcare Information (ePHI) in the healthcare market, are prompting an exponential increase in the use of ‘Out-of-Band’ Authentication,” stated Mr. Kay. “In light of our having been granted the ’599, ’698 & ’701 Patents, and with increased activity in various markets by enterprises, government agencies and social media, StrikeForce will aggressively continue to protect its intellectual property rights and maximize shareholder value.”
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StrikeForce has retained Ropes & Gray LLP to litigate these cases. Ropes & Gray LLP is a global law firm with 11 offices located in the United States, Asia and Europe. The firm has more than 1,200 lawyers and professionals worldwide, and its clients include corporations and financial institutions, government agencies, universities, and health care organizations. The firm, founded in 1865, is recognized as a leader for intellectual property law and has been named to The American Lawyer’s prestigious “A-List” of top 20 firms for six consecutive years.
StrikeForce Technologies, Inc. (OTCMKTS:SFOR) helps prevent Cyber theft and data security breaches for consumers, corporations, and government agencies. It provides powerful two-factor, “Out-of-Band” authentication, key stroke encryption along with mobile solutions. Shares have been moving this year and CEO Kay has taken a bold stance that created a nice move for the stock. It will be interesting to see how the case moves forward and how this effect’s the future for StrikeForce. Those who know the company know the bulldog nature of the C-Level managers at the company.
It is also important to note how the cyber security sector continues to be important for investors in 2017, we think all related cyber security companies are ones to watch as markets process the changing global landscape. For continuing coverage on shares of $SFOR stock, as well as our other hot stock picks, sign up for our free newsletter today and get our next hot stock pick!